KAUFMAN'S COMMENTARY: HERE'S WHAT I THINK...
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Each issue, editor Steve Kaufman offers his perspective on one of this week's newsworthy headlines.
Killer Dillard's
Hedge fund stockholders urge department store to take action, improve performance
1-30-2008
Two of today's major retailing themes - the takeover of the private equity investors and the struggles of the department stores - are on a collision course in Arkansas.
Dillard's is gasping for air and two New York hedge funds, which own 5.3 percent of the company's stock, are eager to supply the oxygen. But at what price? The Dillard family, which owns 13 percent of the company but most of the valuable class B voting shares, doesn't want to sell - and, apparently, doesn't even want to sit down with these investors.
What do the investment groups want? Speculation is that they want to separate out the company's valuable real estate. (That's what Sears Holdings did, not that anyone would use them as a model these days.)
Dillard's is not the only retailer having to deal with aggressive investors. Iceland's Baugur Group wants to take over Saks Inc. Pershing Square Capital Management has widened its hold on Target Corp.
Would Dillard's be helped by a private equity takeover? Could it hurt? The retailer posted operating losses of $24.5 million and $6.5 million for its second and third quarters of 2007.
—Steve Kaufman, VM+SD Editor
What do you think? Click here to weigh in.
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RETAIL SPOTLIGHT
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Trading Secrets
NASDAQ's renovated lobby dazzles with digital branded multimedia
It makes sense that the renovation of NASDAQ's Marketsite entry lobby in a New York office building lobby would be "content-driven." See how Gensler designed the 3000-square-foot welcome area as a virtual theater extravaganza, combining real time electronic financial news, statistics, market data and multimedia content personalized for key visitors.
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JOIN THE DISCUSSION
Every week, we'll pose a thought-provoking question related to working in the retail and design fields. This week's question:
Super Bowl Sunday kicks off in just a few days with the undefeated New England Patriots taking on the upset-minded New York Giants. But hype for the big day - which has been growing for weeks - is not simply about who has the best football team. There's also the question: Who has the best Super Bowl ad.
An advertiser can spend $2.7 million for a 30-second spot on game day. Is it worth the cost? Do consumers really make any decisions about brand loyalty from one ad, especially when there are so many other distractions that day - including parties, food, betting pools and DVRs ready to fast-forward through the commercials? And we've heard there are even some Americans who might be watching another channel.
Join the discussion
WEEKLY NEWS RECAP
SPECIALTY RETAILING
Takeover Games
Catterton trumps Sears bid to acquire Restoration Hardware
Restoration of a Deal
Restoration Hardware says it has entered into a revised merger agreement with private equity firm
Chico's Bulks Up its Management Team
Retailer names a number of new high-level executives
Playing Polo on Bleecker Street
Ralph Lauren to take over West Village store in New York that had been home to L'Uomo for 25 years
DEPARTMENT STORES
Less Eddie Lampert
Sears chairman tells employees he's removing himself from day-to-day oversight
Killer Dillard's
Hedge fund stockholders urge department store to take action, improve performance
With this Plate, I thee Wed
Macy's launches exclusive Martha Stewart tabletop line
Sears Chief Executive Resigns
Aylwin Lewis will be replaced, on an interim basis, by operations evp Bruce Johnson
Subway to Bloomingdale's
Retailer re-opens historic subterranean entrance to its expanded men's store
CONSUMER ELECTRONICS
Palms Away
Maker of Palm Pilot, Treo smart phone, to close seven of its eight retail stores next month
Circuit City's New Executive
Jeffrey Stone will lead company's new business development
FOOD RETAIL/RESTAURANTS
For All the Tea in China
Dunkin' Donuts announces plans for expansion into People's Republic
Let's Have a Dollar Cup of Coffee
Starbucks testing lowered price of 8-ounce cup in Seattle as coffee wars brew
MASS MERCHANDISER
Wal-Mart Tilting at Windmills?
Retailer expresses intentions to save energy, lower prescription costs and audit international social and environmental standards
Value for Value
Retail Ventures finds a buyer for Value City Department Stores
INDUSTRY NEWS
For the Week of January 28th
ACG Appoints Scott Stertmeyer to National Sales Manager; DriTac Changes Name; GFX Earns Honorable Mention
NOTEWORTHY NEW PRODUCTS
"Gerflor"
The Tarafit System
"Zonet USA"
Internet Protocol Cameras
JOB OF THE WEEK
VM+SD's free job board features regular updates on industry jobs and freelance openings. Here's the latest posting:
Regional Visual Manager
Old Navy
COMPETITIONS
Call for Entries: VM+SD Retail Renovation Competition
Deadline is March 26, 2008
Looking for the Best Visual
Enter VM+SD's 15th annual International Visual Competition
COMING UP IN VM+SD MAGAZINE
February:
- Top of the List: Check out winners of the 37th annual ISP/VM+SD International Store Design Competition, including this year's Store of the Year.
- Inspiring Windows: VM+SD's annual holiday window review takes you around the world to see what themes and holiday treats delighted shoppers this past holiday season. Don't miss Bergdorf Goodman, Bloomingdale's, Walt Disney World, Harrods, Holt Renfrew and more.
- What's Hot in Europe? John Ryan, VM+SD's European editor, reports on what retailers are making a splash across Europe, including Desigual and Fortnum & Mason in London; BHV in Paris; and Interspar's hypermarket in Austria.
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